Market Risk Lead - GPTI

Our business is the exploration, production, refining, trading and distribution of energy. This is what we do, and we do it on a truly global scale. BP operates with business activities and customers in more than 80 countries across six continents. Every day, we serve millions of customers around the world. We are continually looking for dedicated, committed and ambitious people to help us shape the face of energy for the future.

Trading & Shipping (T&S) is BP's face to the traded markets for BP in oil, gas, power, chemicals and finance. T&S's role is to enhance Group value through distinctive supply, commodity trading, risk management and information technology skills underpinned by an elite finance, control and compliance infrastructure. T&S has a dynamic and highly skilled workforce, which brings value by combining analysis and commercial innovation with the material asset base of BP. T&S develops a diverse and inclusive workplace for all employees. We are proud of our stance on fairness, equal opportunity and meritocracy, which focuses on all of our employees reaching their full potential.

Role synopsis: This position sits within the Gas and Power Trading International (GPTI) Market Risk team, within BP’s Supply Trading and Shipping business (ST&S). It is accountable for providing deep business understanding and control through the delivery of benefit reporting and analysis and holds the primary interface into the trading front office for a specific set of trading activity, balancing independence with a business enabling partnership. This role requires a deep understanding of the activities within Market Risk in order to meet the team’s core accountability for delivering independent analysis and reporting.

Key accountabilities:

• Ensure trading strategies are understood and both challenge and/or support Front Office appropriately with independent views within a risk management framework and in line with T&S’s Market Risk Standard and Delegation of Authority.
• Provide the coordination/aim for the identification of market risk issues, identifying possible solutions and support implementation of the preferred approach with Commodity Risk and IT&S.
• Run and administer risk models and lead the development of market risk analytics; provide explanation for risks across the portfolio, and interact with Front-Office to understand and challenge underlying trading strategies.
• Improve and develop market risk measurement models and methodologies.
• Provide market risk input required as part of the process through which new activities and projects considered by the Front Office are being evaluated and approved by GPTI.
• Work with the Market Risk wider team to ensure that adequate subject area and control prevail in the business.
• Provide input into the definition of ST&S wide market risk policies and procedures working as a commercial partner to support and challenge the business in day-to-day trading as well as long term strategic deals.

Essential education:

A University degree in a quantitative field is a requirement. An advanced degree in finance, economics, mathematics, science, engineering, etc., is highly desirable. Professional qualification in financial analysis (i.e. CFA), risk management (i.e. FRM, ERP, or PRM), business, or operations research is also desirable.

Essential experience and job requirements:

• Previous Market Risk or relevant Front Office/Analytics experience; acquired working either within BP or within the energy trading sector.
• Strong teammate able to operate within a sophisticated and complex trading business, and demonstrates strong interpersonal, communication and decision-making skills, coupled with sound commercial discernment to build credible relationships across T&S.
• Confirmed experience in evaluating sophisticated deals linked to commercial strategy with a good understanding of economic drivers and deal valuation techniques (preferably an understanding of EEM (or M&A valuation models)).
• Strong level of technical ability in Excel & programming languages, preferably Python and/or Excel VBA, and good understanding of the fundamentals of commodities trading, including familiarity with options, derivatives, and other trading instruments.
• Ability to network effectively with other desks and cross regions to build strong working relationships and support knowledge transfer to promote standard methodology within Market Risk across T&S.
• Strong focus on delivering solutions in a timely and effective manner with minimum guidance or supervision.
• Attention to detail and ability to work within a very deadline orientated environment.

Desirable criteria & qualifications:

• Solid understanding of global gas and power market drivers, physical assets, and fundamentals.
• Relevant experience preferably in LNG or Gas/Power Europe Product Control, Market Risk, middle office, or Trading roles, acquired working either within BP or at a firm in a related field (energy trading firm, financial institution, etc.).
• Professional qualifications in financial analysis, risk management, accounting, or equivalent areas.

Management and Interaction Skills:

• Communicates complex issues clearly and concisely to non‑specialist audiences.
• Builds credibility through professionalism and expertise, effectively influencing and gaining support from key partners.

Performance Drive:

• Demonstrates a strong focus on delivering solutions in a timely and effective manner with minimum guidance or supervision.
• Exercises judgment and makes sound decisions in the face of incomplete data with varying degrees of risk.
• Effectively and efficiently handles a variety of tasks, sets priorities, and measures and anticipates problems to accomplish specific priorities, goals, and results.

Why join us?

At BP, we support our people to grow in a diverse and exciting environment. We believe that our team is strengthened by diversity. There are many aspects of our employees’ lives that are meaningful, so we offer benefits to enable your work to fit with your life. These benefits can include flexible working options, a generous paid parental leave policy, excellent retirement benefits, among others!

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.

Reinvent your career as you help our business meet the challenges of the future. Apply now!

Travel Requirement: Some travel may be required with this role, this is negotiable.

Relocation Assistance: Relocation may be negotiable for this role.

Remote Type: This position is a hybrid of office/remote working.

Skills: Analytical Thinking, Business Acumen, Collaboration, Commodity Risk Management, Creativity and Innovation, Curiosity, Data visualization and interpretation, Decision Making, Exposure Management, Internal control and compliance, Market Knowledge, Market Risk Management, Operational Risk, Portfolio analytics, Problem Solving, Resilience, Sentiment and Trends, Thought Leadership, Trade discipline and compliance, Trade execution and management, Trading and shipping data knowledge, Trading Fundamentals, Trading knowledge, Trading risk controls.